Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Lease Assets and Liabilities

(millions)	Classification	2024		2023
Right-of-use asset	Deferred charges and other assets	$	19	$	21
Lease liabilities
Current	Other current liabilities	$	2	$	2
Long-term	Deferred credits and other liabilities		18		20
Total lease liabilities		$	20	$	22

Future Minimum Lease Payments

Future minimum lease payments under non-cancellable operating leases for each of the next five years and in aggregate thereafter consisted of the following at December 31, 2024:

(millions)
Year ended December 31:	2025		2026		2027		2028		2029		Thereafter		Total
Minimum lease payments	$	2	$	1	$	1	$	1	$	1	$	45	$	51
Less imputed interest														(31	)
Total future minimum payments													$	20

Additional Information Related to Leases

Additional information related to Tampa Electric’s leases is as follows:

Year ended December 31,	2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (millions)	$	5		$	4
Weighted average remaining lease term (years)		46			45
Weighted average discount rate - operating leases		4.4	%		4.4	%